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The XRP Ledger (XRPL) has set a remarkable record by surpassing 93 million successfully closed ledgers. This achievement underscores XRPL’s resilience, efficiency, and its growing adoption since its inception. According to XRP Ledger explorer, XRPL Services, the ledger count has now crossed 93 million, standing at 93,009,637. This milestone reflects over a decade of continuous operation and development since XRPL’s launch in 2012.
Core Features Driving XRPL’s Growth
XRPL offers key advantages like fast, low-cost transactions compared to other networks. It also supports a range of native functionalities, including token management, NFTs, a decentralized exchange (DEX), escrow services, and embedded compliance. These features make XRPL a competitive option for cross-border and cross-currency transactions.
Related article: XRP Ledger Advances with New Decentralized Identifier (DID) Integration
As XRPL approaches the next milestone of 100 million ledgers, the community and developers are working to enhance scalability and interoperability. In September, Ripple and the broader XRP community proposed adding native smart contracts through the upcoming XLS standard. While XRPL shares similarities with networks like Ethereum, Solana, and Cardano, it does not yet support smart contracts natively.
Expansion into Lending and Stablecoins
The ecosystem continues to evolve with a native lending protocol under development. This protocol will enable users to lend and borrow assets, such as XRP, wBTC, and wETH, using single-asset vaults. In April, Ripple announced plans to launch a USD-pegged stablecoin on both XRPL and Ethereum. By December 17, Ripple’s stablecoin (RLUSD) launched globally, debuting on multiple crypto platforms.
Related article: XRP Ledger Burn Mechanism Surpasses 13 Million XRP: Key Insights
NFT activity on XRPL has also surged. By the end of Q3 2023, the network had minted 6.7 million NFTs using the XLS-20 standard. Impressively, over 3.4 million mints occurred in Q4 alone, showcasing XRPL’s growing role in the NFT space.
With these developments, XRPL continues to establish itself as a robust and innovative blockchain network, poised for even greater achievements.
The post XRP Ledger: Pioneering Blockchain with Over 93 Million Ledgers appeared first on FXcrypto News.
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